Copart, Inc., is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, and Brazil. The Company also provides vehicle remarketing services in the United Arab Emirates, Germany, and Spain. The Company provides vehicle sellers with services to process and sell vehicles primarily over the internet through the Company’s virtual bidding third generation internet auction-style sales technology. Vehicle sellers consist primarily of insurance companies, but also include banks and financial institutions, charities, car dealerships, fleet operators and vehicle rental companies. The Company sells the vehicles principally to licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers and exporters and, at certain locations, to the general public. The majority of the vehicles sold on behalf of insurance companies are either damaged vehicles deemed a total loss or not economically repairable by the insurance companies.